Willis-Towers Watson: A Merger of Equals--Not Exactly

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Liz Hoffman And Juliet Samuel When Willis Group Holdings PLC and Towers Watson & Co. announced plans to form an $18 billion global professional-services firm, they billed it as a merger of equals. But their investors don't see it ...

Greece Defaults on IMF Loan -- 7th Update

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Gabriele Steinhauser and Viktoria Dendrinou in Brussels and Nektaria Stamouli in Athens Greece became the first developed country to default on the International Monetary Fund, as the rescue program that has sustained it for five years expired and its ...

China Jun Official Manufacturing PMI 50.2 Vs 50.4 Market Expectation

TODAY: July 1, 2015 PUB DATE: July 1, 2015

BEIJING--China's official manufacturing purchasing managers index was flat at 50.2 in June compared with a month ago, the China Federation of Logistics and Purchasing, which issues the data with the National Bureau of Statistics, said in a statement Wednesday. The ...

South Korea June Nikkei PMI Falls in May

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Kwanwoo Jun SEOUL--South Korea's manufacturing activity contracted for a fourth consecutive month in June and fell to a three-year low, a private survey showed Wednesday. The Nikkei Purchasing Managers' Index came in at a seasonally adjusted 46.1 in June, ...

Singapore Private Residential Property Prices Index Falls 0.9% On-Quarter in 2Q

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Gaurav Raghuvanshi SINGAPORE--Singapore's private property prices fell for the seventh consecutive quarter in the April-to-June period, according to early estimates released Wednesday by the nation's Urban Redevelopment Authority. The overall private residential property index fell by 0.9% on quarter, ...

Greece Defaults on IMF Loan -- 5th Update

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Viktoria Dendrinou, Nektaria Stamouli and Gabriele Steinhauser Greece became the first advanced economy to default on loans from the International Monetary Fund on Tuesday, after European finance chiefs shut down Athens's last-minute request for emergency financial aid. The Greek ...

Emerson Electric to Spin Off Network Power -- 2nd Update

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Bob Tita Emerson Electric Co. plans to carve off its network-power business and about $5 billion in annual sales, in a move that reflects increasing challenges for suppliers of equipment and services to the computer-server centers powering the Internet. ...

Asian Shares Hold Steady After Greece Defaults

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Gregor Stuart Hunter Asian markets held steady early Wednesday, as investors appear to take in stride Greece's missed loan payment and await a raft of factory data from across the region. Global markets stabilized even as Greece ended up ...

Sysco Ends Plans to Merge With US Foods -- 2nd Update

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Annie Gasparro Sysco Corp. abandoned its planned acquisition of rival US Foods Inc. following a federal judge's ruling against the deal, forcing the food-distribution giant to find a new strategy for its future that is likely to include smaller ...

Court Rejects Motion to Block Merger of Samsung Affiliates

TODAY: July 1, 2015 PUB DATE: July 1, 2015

SEOUL?A South Korean court on Wednesday rejected a motion by a U.S. hedge fund to block a planned $8 billion takeover of the construction arm of the Samsung conglomerate by the de facto holding company of the business group, clearing ...

Home Buyers' Newest Must Have: High-Speed Internet

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Ryan Knutson In May, Kara Burke and Tom Cairns thought they had found their ideal house: a nicely updated older three-bedroom home in Worthington, Mass. But they didn't make an offer because it didn't have high speed Internet. "We ...

U.S. Stocks Rebound From Steep Selloff

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Dan Strumpf U.S. stocks closed higher, with the Dow and S&P; 500 rebounding from their biggest losses of the year, as a last-minute diplomatic scramble got under way to keep Greece from defaulting on its debt payments. But the ...

Goldman to Pay $7 Million Over Options Glitch -- Update

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Justin Baer And Angela Chen Goldman Sachs Group Inc. agreed to pay $7 million to settle the top U.S. securities regulator's charges that the Wall Street firm failed to prevent a technical glitch that sent out thousands of erroneous ...

Proportion of Euros Held in Foreign-Exchange Reserves Declines

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Ira Iosebashvili The proportion of euros held in official foreign-exchange reserves dropped in the first quarter, suggesting that central banks allowed their allocation of the single currency to decline amid negative interest rates in the eurozone. Central banks held ...

South Korea Exports Fall 1.8% in June

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Kwanwoo Jun SEOUL--South Korea's exports fell in June for a sixth straight month, but the pace of decline eased greatly from the previous month, according to provisional data from the Ministry of Trade, Industries and Energy. Exports declined 1.8% ...

Connecticut Regulator Rejects Iberdrola Deal for UIL -Hartford Courant

TODAY: July 1, 2015 PUB DATE: July 1, 2015

Connecticut's Public Utilities Regulatory Authority has rejected Iberdrola SA's (IBE.MC, IBDRY) pending deal to buy UIL Holdings Corp. (UIL) for about $3 billion, the Hartford Courant reported Tuesday. In a draft decision, the regulator said Iberdrola's record of mergers and ...

Australia's Asciano Gets Near $7 Billion Takeover Bid

TODAY: July 1, 2015 PUB DATE: July 1, 2015

SYDNEY?Australian ports operator Asciano Ltd. said it has received an 8.83 billion Australian dollar (US$6.80 billion) takeover proposal from Brookfield Asset Management Inc. On Wednesday, Asciano said Brookfield had approached it with a cash-and-shares deal worth A$9.05 a share, and ...